Retirement plan
NG ES UNION REPRESENTED EMPLOYEES PENSION PLAN
NORTHROP GRUMMAN CORPORATIONEIN 80-0640649Plan #045PY 2022
2980 FAIRVIEW PARK DRIVE - FALLS CHURCH, VA 220424511703-280-2900northropgrumman.comLinkedIn10001+ employeesdefense & space
Prospect flagsHigh retiree %Low participant contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JEFF SCHMIDT-CORP VP, TOTAL REWARDS
Signed 10/10/2023
Summary metrics
Total assets (EOY)
$601.2M
-2.7% from 2016
Total participants
2,932
+0.3% from 2016
Average account balance
$0
No prior year
Annual return
-16.06%
-7.81 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined benefit
Participants250-999
Cohort217 peers
Snapshot2022
6
Participant deferral / active EE
$1,707
median $0
0
Employer contribution / active EE
$0
median $5,154
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $164,233
0
Admin fee / account holder
$0
median $1,015
69
Annual return
-16.06%
median -18.71%
Overall peer rank
38of 100
38th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$631.88M
Average account balance
Total assets / participants with a balance (line 6g)
$221K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
2,054
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$1.38M
Contributions per participant
Average employer and participant contribution per enrolled participant
$2K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+5.55%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 5 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 04-2647786 | Recordkeeping | $189,591 |
Service code 11 · EIN 53-0181291 | Actuarial | $114,723 |
DELOITTE & TOUCHE LLP8+ years Service code 10 · EIN 13-3891517 | Accounting | $83,892 |
Service code 25 · EIN 04-1867445 | Directed Trustee | $31,857 |
CALLAN ASSOCIATES8+ years Service code 34 · EIN 94-2192581 | Valuation (appraisals, etc.); Direct ... | $6,984 |
Enrolled actuary
1 attachment
SB
THOMAS R. SUPPLE
WILLIS TOWERS WATSON US LLC
Enrollment #2305740
300 SOUTH GRAND AVENUE, STE 2000
LOS ANGELES, CA 90071
(213) 337-6000
Plan features & details
Pension benefit codes1A1C1I
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
- 1CCash balance or similar planA cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
- 1IFrozen planAs of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
Opportunity flags
2 tripped
- OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
- InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Expense breakdown
Schedule H Part II
Admin total
$1.3M
$1436 / participant
- Other / not subdivided$1M100.0%
% of EOY assets
0.224%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- DELOITTE & TOUCHE LLP
- Auditor EIN
- 133891517
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified